Barclays, the U.K. banking behemoth, is challenging on-the-rise blockchain developers to assist refurbish the worldwide derivatives market next month at a hackathon.

Disclosed to the media this week, DerivHack will take place at Barclays’ Rise accelerator spaces at the same time in New York and London on September 20 and 21, 2018. The ISDA (International Swaps and Derivatives Association), Thomson Reuters, and Deloitte are co-sponsoring the hackathon.

Those participating will be requested to apply ISDA’s CDM (Common Domain Model), a set of data standards and process, employing their choice of DLT (distributed ledger technology) platform to competently model derivatives contracts’ post-trade processing.

CDM makes an effort to harmonize the way data is reported and presented all over different platforms and firms. As such, its acceptance is broadly seen as a requirement for the financial sector to adopt smart contracts and DLT.

One objective of the event is to understand which of the society-employed enterprise DLT platforms (such as Hyperledger Fabric, R3’s Corda, or ethereum) controls smart contracts’ derivative life cycle most gracefully.

Speaking of Barclays, the firm is carrying on its push to branch out stock trading with senior recruitments.

The bank hired Mike Lewis. He will be working as managing director in New York for the US equities cash trading, claimed Brittany Berliner, a spokeswoman of the bank, to the media in an interview. Lewis, who begins his role from November 2018, has an experience of 13 Years at Morgan Stanley, where he assisted design the company’s block-trading abilities.

Barclays also appointed Justin Kantrowitz and Andrew Rouff. Both of them are hired from Credit Suisse Group AG. They are appointed in New York for the consumer-trading desk. Being a managing director, Rouff will aim on trading while Kantrowitz will be a desk-based analyst and a director supervising user stocks. Both will begin their job in October 2018.